article thumbnail

The latest reports from FBI and ITRC reveal that cyber incidents in 2023 broke records for financial loss and frequency.

Triple-I: Business Insurance

Cyber incidents reported to the FBI’s Internet Crime Complaint Center (IC3) in 2023 totaled 880,418. Email compromise, cryptocurrency fraud, and ransomware increase In addition to record-high financial losses from cybercrimes overall in 2023, the report revealed trends across crime methodology and targets. billion in 2022 to $3.94

article thumbnail

Travel Insurance for Businesses

Bankers Insurance

These policies can also cover areas such as foreign business auto rental, foreign commercial general liability, foreign voluntary workers’ compensation, foreign travel accident/sickness, marine ocean cargo, foreign commercial crime and political risk. Additionally, the U.S.

Insured 52
article thumbnail

How To Save Money On Your Commercial Insurance

Protect Commercial Insurance

Fortunately, insurance providers often offer a variety of discounts that businesses can take advantage of. Implement Risk Management Practices One effective way to secure discounts on your business insurance is by demonstrating that your operation is low risk.